Putting Money In Your Hands
Putting Money in Your Hands-Small Business Adminstration
For two years in a row the U.S. Small Business Administration (SBA) has helped to put more than $30 billion into the hands of small business owners across the country. In Fiscal Year 2012, the SBA loan programs posted the second largest dollar volume ever, surpassed only by the dollar volume in FY 2011, which was heavily boosted by the loan incentives under the Small Business Jobs Act of 2010. The pace of SBA loan-making is a healthy sign for the national economy and the credit markets and is one of the foundations for ensuring the availability of financing to small businesses trying to establish themselves, grow and create new jobs for Americans.
Over the past year, SBA began streamlining and simplifying many of the loan programs to provide more access and opportunity for both lenders and small businesses. As part of this effort, SBA encouraged lenders to use more of their own paperwork and less of ours. And the agency's updated our processing systems, so that more than 80 percent of its loan applications can now be processed online.
These efforts, along with other loan enhancements, have resulted in nearly 1,300 lenders returning to SBA lending, and have opened up more points of capital access for small businesses wherever they do business.
As we look forward to 2013, SBA stands ready to help you start, grow or expand your business. We're ready to put money in your hands. For more information about our loan programs, visit: www.sba.gov.